Mortgages

The top five had a combined portfolio of nearly half a billion dollars.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

The hearing would have featured debate on a number of housing bills, along with a measure to block commercial firms from owning industrial banks and new limits on overdraft fees. House Financial Services Committee Chair Maxine Waters has tested positive twice since April.

A new study has found that Black and Hispanic borrowers are denied conventional mortgages at higher rates than white applicants and pay up to $2,000 more to refinance.

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau want financial institutions to provide more outreach to non-English speakers, a move that could foreshadow multilingual disclosure mandates.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Risky loan applications had been on the rise for more than a year, according to the analytics firm CoreLogic. Now that activity is slowing down, lenders face a higher risk of fraud, and many could be ill-equipped to handle it.

Data as of Mar. 31, 2022. Dollars in thousands.

The system may be good for the banks that own it, but it is not meeting its public mission.

Executives at banks north of the border pointed this week to several potential U.S. economic snags, including inflation, the possibility of a housing market correction and soaring energy prices.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Click here for an overview of No. 1-10 on American Banker's annual list of the highest-performing banks with less than $2 billion of assets and a full breakdown of all the banks on the roster.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

Truliant Federal Credit Union is one financial institution eager to expand online notarization. For customers, it's more about convenience than social distancing.